Cryptocurrency exchange Coinbase has filed an amicus brief on behalf of Beba Collection and Fund Defi to stop the regulator the Securities and Exchange Commission (SEC) from implementing some of its “retrogressive” laws.

This comes as the SEC has waged war against law-abiding citizens through rules and regulations that reportedly stifle growth and innovation.

SEC has reportedly become destructive in their rules and regulations, without providing clarity on what constitutes legal and illegal activity. The regulator itself is reportedly not clear on what is deemed law and what is not.

While the SEC claims that the “existing” rules work for digital assets, the regulator does not indicate as to when the rules apply or how the digital asset companies must comply.

This is a developing story.

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